The US put $700 billion into a bailout of US banks during the financial crisis. Now the nations of the euro zone are proposing a similar bailout fund – €750 billion – to deal with the Greek debt crisis.
The Dow average was up by more than 340 points as of early Monday afternoon. Investors were relieved to see European leaders agree on a Greece debt plan.
Europe could be in for some major belt-tightening to handle the Greek debt crisis, as well as problems in Spain, Portugal, and Ireland. That could slow US economic growth somewhat.
The US economy has been propped up in part by government stimulus spending, but some of those artificial supports are slated to fall away later this year. The big question is whether the economy can sustain jobs growth on its own.
One month doesn't make a trend, but recent gains in job growth were broad-based across the economy. GDP forecasts have edged up, too. This bodes well for a jobs recovery that’s better than what followed the 2001 recession.
Among the new health care bill facts: The legislation will bring tax hikes, mainly on the highest-income Americans.
Rules for when to own a reward credit card.
New laws are shielding American credit-card users – as long as they can get credit.